"After much consideration, and in support of the writers and everyone else affected by this strike, we have decided that this is not the appropriate year to hold our annual Oscar party," the magazine said in a statement. "We want to congratulate all of this year's nominees and we look forward to hosting our 15th Oscar party next year."
It's still unclear if the writer's will be working the Academy Awards, and/or who will cross the picket line to show up, but I'm holding out that the strike will be over by then. You gotta have hope, right? I need new TV!!
Check out Oscar Headquarters for all the news you need on the festivities.